West Virginia argus. [volume] (Kingwood, W. Va.) 1877-1946, 1887-07-14
REVIEW OF TRADE.
soMEUNoERrArNrY INFINANoE.
Tho Crop Prospects Continue En-
couragtng. Reports OF Cotton
Uniformly Favorable. In
creased Iron Output.

The business ot a broken week has been on
the whole encouraging The prospects With
which the half year opens are generally satis.
factory, and yet financial uncertainties are
not entirely removed and thcro rontAin grcat
speculative operations which disturb and
threaten Crop prospects continue good,
though reliable reports OF injury from
drought and bugs camo from Wostorn Ne,
braska. Southern reports Nro uniformly
favOTable as 90 cotton. An increase OF 10
PER cont, in the Acrcagc OF hay is reported,
with probable increase Of yiold in all sections,
except the central West, though tho quality
is MT ~ satisfactory. Wheat has boon In
largo demand, tho exports from Atlantic
ports having reached i5,5OO,OO bushels for
i've weeks, hut the supply carried over is about
ns was anticipated California carrie, over
about $500, 900 bushels with prices 20 cents
per GENITAL above the parity OF Liverpool-a
situation which may have significant conso.
quences-but holders talk of keeping their
stock through the year. At Now York tho
great decline which followed the Juno corner
has invited large export buying, and prices
stifren little
Tho weekly output of iron July was lOs,-
eSS tons, gain OF 1,i22 tons
i'm June but many furnaces aro
still idlebocauso of tho unsettled colo-work-
Srs' strike, and the output is about %, 900 tons
less than May 1. Tho half years production,
8,l57, ,2l7 tons Is about 52O, 900 moro than that
Of last years first half Dealers talk OF "a
rise In prices for n time, though later in the
year, and tho increasing production may
cause reaction
THE FINANCIAL SITUATION
az New York Is better, because tho Treasury
disbursements have exceeded receipts by
nearly tl0,O0OOOO tho past week But at
some Western and Southern points, especial
! " where real estate snles and building havo
becn active tightneS9 Of money appears.
Thus money ~ close at Nashville,
"actlve at Z TO 8 per cont" at
Cleveland, and interest is 3 20 10 per cent
at Omaha, where building permits for ST.
600, 600 have been issued this year Western
cities have been paying back part Of tho hoavy
loans made there 10 meet emergencies after
the wheat collapse. Here feeling prevails
that disturbance, resulting from great spec
ulations, may not be over, and that tho un
settled deals in railroads and the stock market
need close watching. After somo recovery
stocks were weaker on Wednesday, and again
on Friday. The enormous investments iu
new buildings throughout tho country, in
new railroads and manufacture begin 90 be
npprchended, and as to treasury accumula-
tions this fall, Secretary Fnirchild Is said 10
he increasingly anxious TO avoid bond plr-
chases IL possible.
Foreign trade does not look moro healthy
for two weeks exports from New York have
fallen 10 per cent below last year,
while imports still average about 10
per cent. larger than last year. Tho
wheat movement helps, and little for
oign demondfor corn and larger exports
of refined sugar; but cotton IS held too high
for export, though IL has declined nm eighth,
and pork products and oil are practically un-
changed. Interior reports arc worry favor
able for the season, though midsummer
prospects are not always reliable; and eK
changes continue large, but reflect past rather
than new trade. The settlement OF import
ant labor troubles gives satisfaction, but a
rise in wages means larger cost OF produc
tion, with possible decrease In demand
While the situation Is not free from menac
ing uncertainties, operations under the Inter
state law continue 10 lessen fears ON that &C
count Litigation under the ac5 multiple.
every week, however, and must, for a time
involve doubt as 30 the value OF mony prop
! critics